Gold and Silver Gain Thursday, Feb. 6

by CoinNews.net on February 6, 2020 · 0 comments

250 g Fine Gold Bar

Gold futures rose 0.5% on Thursday, Feb. 6

Precious metals futures divided Thursday as gold and silver gained and platinum and palladium declined.

Gold for April delivery tacked on $7.20, or 0.5%, to settle at $1,570 an ounce on the Comex division of the New York Mercantile Exchange.

"Investors are accumulating gold positions at the moment anticipating more quantitative easing programs and lower rates from central banks," Reuters quoted Bob Haberkorn, senior market strategist at RJO Futures.

Gold futures ranged from a low of $1,556 to a high of $1,571.90. They rose 0.5% on Wednesday, they dropped 1.7% on Tuesday, and they shed 0.4% on Monday. Last Thursday, they finished at $1,589.20 an ounce for their highest settlement since April 1, 2013.

Silver for March delivery gained 21.6 cents, or 1.2%, to settle at $17.818 an ounce. Silver futures traded between $17.57 and $17.88. They rose 0.2% on Wednesday, they declined 0.6% on Tuesday, and they fell 1.9% on Monday.

In other precious metals futures prices on Thursday:

  • April platinum declined $19.70, or 2%, to $967.40 an ounce, ranging from $963.10 to $991.70.

  • Palladium for March delivery sank $89.50, or 3.9%, to $2,237.20 an ounce, trading between $2,215.90 and $2,366.40. On Wednesday, the palladium registered a record close at $2,335.60 an ounce.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:

  • Gold rose $10, or 0.6%, to $1,563.30 an ounce.
  • Silver added 14.5 cents, or 0.8%, to $17.765 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales were unchanged according to available figures from the Mint’s website. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods.

US Mint Bullion Sales (# of coins)
This Week / February November December 2020 Sales
$50 American Eagle 1 Oz Gold Coin 0 8,000 2,000 38,000
$25 American Eagle 1/2 Oz Gold Coin 0 5,000 0 23,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 0 18,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 60,000
$50 American Buffalo 1 Oz Gold Coin 0 5,000 1,500 21,000
$1 American Eagle 1 Oz Silver Coin 0 463,000 0 3,846,000
$1 American Eagle 1 Oz Platinum Coin 0 463,000 0 14,500

 

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